Is it correct to say that rising prices are inflation?

No, a sustained and generalized increase in prices over a period of time is inflation.

Inflation refers to the circulation of money under the conditions, because the money supply is greater than the actual demand for money, that is, the real purchasing power is greater than the supply of output, resulting in the devaluation of the currency, caused by a period of time prices continue to rise in a general phenomenon. In essence, the total social demand is greater than the total social supply (demand far exceeds supply).

In Keynesian economics, the reason for this is that changes in aggregate supply and demand in an economy lead to a movement in the price level. And in monetarist economics, it arises because when the amount of money issued in the market exceeds the amount of money needed in circulation, there is a depreciation of paper money and an increase in prices, leading to a decrease in purchasing power, which is called inflation.

Keeping prices, especially the prices of important livelihood commodities, basically stable has a bearing on the basic life of the people, especially those in need. The National Development and Reform Commission (NDRC), in conjunction with relevant departments, has issued a series of policies and measures and formulated a number of programs and plans.

Some of the measures have been effectively implemented and have produced positive results. For example, the implementation of subsidies, credit, land and other policy measures to stabilize pig production, all levels of government storage of frozen pork, while strengthening market supervision, to combat market speculation and other illegal acts.

In addition, the guidance around the effective implementation of the price subsidy linkage mechanism, in response to the obvious rise in food prices in recent times, there have been a number of provinces in a timely manner to the needy people issued temporary price subsidies to effectively alleviate the impact of rising food prices on the basic life of the needy people.

Baidu Encyclopedia - Inflation